alt Hacker NewsSpaceX is incredibly exciting, but I was skeptical when XAI and Twitter were rolled into it. The S-1 here makes it even more disappointing.
I did want a piece of SpaceX but the valuation here is pretty eye watering compared to the fundamentals. I don't think I can put my money into this, although I suspect it will still do gangbusters based on hype and momentum.
Its also a real shame that SpaceX's competitors have not been able to get the same level of momentum. I know Starship has been delayed but its still hard to argue with total mass to orbit they're achieving right now.
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You'll get a piece regardless if you're in index funds, as they're being strong-armed into buying at this awful price
Hopefully their competitors will keep advancing but that just reinforces that how hard space is and that SpaceX is doing things no one else currently can.
SpaceX would be an interesting IPO without XAI. It is hemorrhaging money and is in what, 6th place in the AI race while hemorrhaging X subscribers every month. Theoretically the company could focus on what is profitable and be strong fundamental company, but this is Elon we are talking about he is going to do whatever he wants to do.